228
228
Jul 30, 2012
07/12
by
CNBC
tv
eye 228
favorite 0
quote 0
so much going on within hsbc at the moment. the key is about the provisioning, the level of provisioning and not necessarily talk about provisioning for scandals or libor concern. i'm talking about provisions on their loan book. hsbc has been in front of the curve and analysts are looking for potentially in '13 and '4 some upside surprise. the income cost ratio, the grand plan of hsbc is to bring that to a level of 52%. without seeing the numbers my suspicion is -- >> i'm looking for that. 11.3%. from what you've heard at the moment and we're getting more information what are your thoughts? >> well, i mean similarly, we were expecting hsbc to come in at approximately $12.5 billion. i think that's on the liberal side. so as the person said earlier they may not need that much. they have been very astute when it comes to capital adequacy. remarkably good with nonperforming loans. hsbc surprised the market and plowed back in the next quarter some of the provisioning. >> let's be clear, the 2 billion in total includes for u.s. law e
so much going on within hsbc at the moment. the key is about the provisioning, the level of provisioning and not necessarily talk about provisioning for scandals or libor concern. i'm talking about provisions on their loan book. hsbc has been in front of the curve and analysts are looking for potentially in '13 and '4 some upside surprise. the income cost ratio, the grand plan of hsbc is to bring that to a level of 52%. without seeing the numbers my suspicion is -- >> i'm looking for...
277
277
Jul 4, 2012
07/12
by
CNBC
tv
eye 277
favorite 0
quote 0
hsbc posted its version of the services s pmi. coal stocks rebounded, but the market failed to gain traction on the back of weakness in the financial space. and japan's nikkei rose to a two-month high led by gains in energy sector index heavyweight fast retailing soft banks shares also rose lending support. and south korea, the kospi tongue about 0.4%. samsung electronics shares rose despite a fresh legal setback over in the u.s. and australia outperformed hitting a seven-week high. may retail data helped boost sentiment. and a quick check on india. reversed earlier losses gaining about 0.2%. let's take a break now. "worldwide exchange" will be right back. ♪ ♪ ♪ ♪ [ male announcer ] what's the point of an epa estimated 42 miles per gallon if the miles aren't interesting? the lexus ct hybrid. this is the pursuit of perfection. >>> you're >>> you're watching "worldwide exchange." >> welcome back. the german chancellor angela merkel and the italian prime minister mario monti are meeting in rome as the italian budget deficit w
hsbc posted its version of the services s pmi. coal stocks rebounded, but the market failed to gain traction on the back of weakness in the financial space. and japan's nikkei rose to a two-month high led by gains in energy sector index heavyweight fast retailing soft banks shares also rose lending support. and south korea, the kospi tongue about 0.4%. samsung electronics shares rose despite a fresh legal setback over in the u.s. and australia outperformed hitting a seven-week high. may retail...
286
286
Jul 19, 2012
07/12
by
CNBC
tv
eye 286
favorite 0
quote 0
the newspapers say the probe is centered around deutsche bank, hsbc, socgen and c agricole. that's the suspicion so that's why we have the investigation to begin with. it's about collusion. >> not necessarily collusion. there were two different things happening. specific traders within barclays. >> original investigation was into, was the wholly bore rate. >> no. it was into whether individual banks in the first place trying to rig it at all. having established that are they colluding. central bankers will debate how borrowing rates are determined. meeting in switzerland on september 9th. the chair of the financial stability board has raised the prospect that libor may have to be abandoned. find out more on how libor can regain its credibility go to our website at cnbc.com. >> japanese banking lobby head said no involvement by japanese banks in the manipulation of libor at all. >> you have to wonder about tibor. not japanese banks but banks manipulating the japanese interlending bank. >> e-mail us at worldwide@cnbc.com and you can, of course tweet us at cnbcwex. if you have
the newspapers say the probe is centered around deutsche bank, hsbc, socgen and c agricole. that's the suspicion so that's why we have the investigation to begin with. it's about collusion. >> not necessarily collusion. there were two different things happening. specific traders within barclays. >> original investigation was into, was the wholly bore rate. >> no. it was into whether individual banks in the first place trying to rig it at all. having established that are they...
148
148
Jul 2, 2012
07/12
by
CNBC
tv
eye 148
favorite 0
quote 0
i spoke to hsbc and here's what he had to say. >> i think that as we, you know, see going forward in the next 5, 10, 15 years, there is a clear rebalancing which is going on. and it is produced on exports to grow will start rebalancing towards his port. and i think in that context, germany will, according to the report that we've got, start presuming more and start importing more and that's how it will move towards being one of the largest importers in world. and so will china. so germany, china, india, brazil, all of these economies will be much faster than the support growth. and the traditional economies like u.s., u.k., france, spain with the exports of basic imports as we go forward. >> achnd all of this, i'm sorry including germany's import demand you see happening despite a pretty secure europeyoueurope crisis? >> well, in terms of the debt crisis, the crisis has been with us in one shape or form for the last four, five years. and everybody if you see the figures if r the first quarter this year, what have grown by over 5%. i'm here with 52 entrepreneurs and say we will keep i
i spoke to hsbc and here's what he had to say. >> i think that as we, you know, see going forward in the next 5, 10, 15 years, there is a clear rebalancing which is going on. and it is produced on exports to grow will start rebalancing towards his port. and i think in that context, germany will, according to the report that we've got, start presuming more and start importing more and that's how it will move towards being one of the largest importers in world. and so will china. so...
195
195
Jul 11, 2012
07/12
by
CNBC
tv
eye 195
favorite 0
quote 0
. >>> hsbc reportedly apologized for lax anti-laundering controls at senate hearing next tuesday. according to internal memo reviewed by dow jones, the company will say sorry for not having stronger regulations and failing to deal with, quote, unacceptable behavior. they have doubled spending on compliance since 2010. >>> unicredit is slimming down, they announced plans to have a more regional based structure for small clients while large clients will be continued to be serviced by the cross-border corporate and investment banking decision. the ceo said they were complaining about the slow and complex structure. >> what is strength of credit has been geographical so this is helping in crisis italy is helping more than other countries. we keep moderate activities and looking forward. >>> let's get final thoughts from our guest host patrick arm tro arm trong. you like high-yielding stocks. it caught my attention on the "squawk europe" program earlier. a guest discussed them as a bubble saying in '08 they collapsed more than the rest of the markets so be very weary now. >> we're attr
. >>> hsbc reportedly apologized for lax anti-laundering controls at senate hearing next tuesday. according to internal memo reviewed by dow jones, the company will say sorry for not having stronger regulations and failing to deal with, quote, unacceptable behavior. they have doubled spending on compliance since 2010. >>> unicredit is slimming down, they announced plans to have a more regional based structure for small clients while large clients will be continued to be...
340
340
Jul 23, 2012
07/12
by
CNBC
tv
eye 340
favorite 0
quote 0
hsbc releases its preliminary reading on china pmi data. that kicks off a full day of flash pmi. glenn stevens gives his thought on expectations. and india will report first quarter earnings. >> shell is revolutionizing energy landscape. will it be enough to grant u.s. full energy independence? trade links coming up next. #a#a#a#a#a#a'9#a+=#a#a#a#a#am#aa +g#a >>> the look for the summer, i haven't got them on, the look for the summer is big choppy, muttton chop side burns. >> you should grow them in honor of bradley wiggins. >> "the cycle"ist wiggins made history. he had a winning margin of 3:21. historic victory. >> britain took second place as well. very strong there. >> wiggins teammate helped him win. in golf britain may have won tour but the winner of the tour was els. he won by one stroke. tiger woods finished third in the tournament. it was more of a collapse from adam scott. and, of course, olympics. they will be dominating from the end of this week and the olympics, how big of a home team advantage will team have. britain one only one gold medal. our next guest has writt
hsbc releases its preliminary reading on china pmi data. that kicks off a full day of flash pmi. glenn stevens gives his thought on expectations. and india will report first quarter earnings. >> shell is revolutionizing energy landscape. will it be enough to grant u.s. full energy independence? trade links coming up next. #a#a#a#a#a#a'9#a+=#a#a#a#a#am#aa +g#a >>> the look for the summer, i haven't got them on, the look for the summer is big choppy, muttton chop side burns....
192
192
Jul 26, 2012
07/12
by
CNBC
tv
eye 192
favorite 0
quote 0
. >> still with us is steven major global head of fixed strategy at hsbc. steven, concerns about china have underpinned a lot of action in trading across the globe in recent weeks. is weakness there causing some of this panic move in markets? >> yeah. it's contributed to some of the concerns in the forex markets and bonds. some of the previous issue and allocation towards dollars and euros is stopping now and i think that's a key factor. but also people are thinking if china is slowing then where is the global growth going to come from and this is really undermining a lot of markets around the world. the extent of the slow down is still in the 7% to 8% range. the pmi numbers weren't that bad. it still looks to us much more like a soft landing than a hard landing. >> and, steve, quick word about treasury, ten year yesterday, what do you do with treasuries at the moment? >> the curve has more flattening potential and twist has been quite effective. there's the threat of qe3 at some point in the future and obviously the fiscal cliff, et cetera to come up later
. >> still with us is steven major global head of fixed strategy at hsbc. steven, concerns about china have underpinned a lot of action in trading across the globe in recent weeks. is weakness there causing some of this panic move in markets? >> yeah. it's contributed to some of the concerns in the forex markets and bonds. some of the previous issue and allocation towards dollars and euros is stopping now and i think that's a key factor. but also people are thinking if china is...